Range-bound precious metals coupled with a slight weakening in base metals pushed the S&P-TSX Venture Composite Index down 18.39 points over the Nov. 14-20 trading session to close at 2,630.5. Average daily trading volumes also retracted to the 60.9-million share level.
A total of 32 junior explorers managed to rise to new 52-week highs over the week compared with 38 explorers that slumped to yearly lows.
Uranium producer UrAsia Energy traded the highest volume with 8 million shares changing hands on the session, closing up 28 at $3.63 per share. Inferred resources at its South Inkai uranium project in Kazakhstan increased by 69% following a revised estimate of about 43.5 million contained pounds U3O8. The company also operates its Akdala mine in the country.
A drill intercept of 3.4 metres grading 0.32% U3O8 at its Baker Lake project triggered trading of 6.4 million shares in Pacific Ridge Exploration, which gained a couple of pennies to close at 23 per share. The Nunavut project is being optioned from Kaminak Gold.
Shares of Birch Mountain Resources collapsed over the week, dropping more than 44% to close down $2.18 at $2.74 apiece on volume of over 6.3 million. The company announced a $2.92-million third-quarter loss and tabled terms for a $30-million debenture offering.
Ditem Explorations saw trading of over 6 million shares on the session and gained 51% to close up 13 at 38.5 per share. It plans a $1.5-million financing and recently completed an airborne geophysical survey on its Beartooth Island uranium project in the Athabasca basin.
Strateco Resources continued to garner investor interest, closing down a couple of pennies at $1.79 per share on trading volume of 4.9 million shares. Recent drilling at the company’s Otish Mountain-area Matoush project cut 5.6 metres of 1.68% U3O8.
Shares of Aquila Resources gained 11% to close up 18 at $1.83 apiece on volume of almost 4.9 million. Additional drilling on the company’s Back Forty project in Michigan intersected further high-grade copper-gold- silver mineralization. The company has also arranged a $10-million financing.
Acadian Gold traded over 4.8 million shares on the week to close up 4 at 72 per share. Acadian is expanding its Nova Scotia landholdings around the Scotia zinc-lead mine. The new claims cover the Getty deposit, a western extension of Scotia, and contain a historic resource of 4.5 million tonnes of 1.9% zinc and 1.3% lead.
Universal Uranium posted a weekly gain of 51%, closing up 26 at 77 per share on trading volume of almost 1.7 million. In addition to drilling on its Lisbon Valley project in Utah, it recently optioned projects in Colorado and in Labrador’s Central Mineral Belt.
Uranium explorer Energy Fuels lodged a gain of $1.43 on the week to close at $4.75 on volume of 3.2 million shares. It recently optioned a Utah uranium-vanadium project that has seen past development and contains a historic resource.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Colibri Res wt | CBI.WT | 76 | 0.08 | 0.04 | 0.055 | +450.0 |
| Inter-Rock Mnl | IRO | 16 | 0.10 | 0.065 | 0.10 | +66.6 |
| Cons Gd Thun R | GHG | 415 | 0.70 | 0.38 | 0.70 | +66.6 |
| Solid Res | SRW | 28 | 0.51 | 0.31 | 0.50 | +56.2 |
| Proam Expl | PMX | 44 | 0.19 | 0.16 | 0.16 | +52.3 |
| Universal Uran | UUL | 1673 | 0.83 | 0.42 | 0.77 | +50.9 |
| Ditem Explor | DIT | 6013 | 0.41 | 0.235 | 0.385 | +50.9 |
| Prominex Res | PXR | 943 | 0.21 | 0.135 | 0.21 | +50.0 |
| Macarthur Mnl | MMS | 160 | 2.00 | 1.85 | 1.87 | +48.4 |
| Halo Res | HLO | 874 | 0.465 | 0.32 | 0.465 | +45.3 |
| Birch Mountn | BMD | 6322 | 4.92 | 2.61 | 2.74 | -44.3 |
| Knight Res | KNP | 2423 | 0.23 | 0.135 | 0.135 | -38.6 |
| Probe Mines | PRB | 614 | 0.22 | 0.13 | 0.15 | -31.8 |
| Bishop Gold | BSG | 2413 | 0.04 | 0.025 | 0.025 | -28.5 |
| Foran Mng | FOM | 169 | 0.23 | 0.165 | 0.165 | -26.6 |
| Prospctr C Res | PRR | 150 | 0.125 | 0.11 | 0.11 | -26.6 |
| Tom Expl | TUM | 102 | 0.135 | 0.115 | 0.12 | -25.0 |
| Tanqueray Res | TQY | 1155 | 0.19 | 0.095 | 0.105 | -25.0 |
| Dentonia Res | DTA | 695 | 0.10 | 0.07 | 0.08 | -23.8 |
| MacDonald Mns | BMK | 609 | 0.17 | 0.12 | 0.13 | -23.5 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Energy Fuels | EFR | 3195478 | 4.75 | +1.43 |
| Palmarejo Gold | PJO | 542715 | 8.80 | +1.41 |
| Triex Minerals | TXM | 950693 | 3.71 | +0.76 |
| Macarthur Mnl | MMS | 160280 | 1.87 | +0.61 |
| Strathmore Min | STM | 2635506 | 3.10 | +0.50 |
| Northern Dyn M | NDM | 1095466 | 8.57 | +0.47 |
| Keegan Res | KGN | 713009 | 2.85 | +0.40 |
| Titan Uranium | TUE | 981382 | 2.84 | +0.37 |
| Andina Mnls | ADM | 1033499 | 2.75 | +0.29 |
| Cons Gd Thun R | GHG | 414631 | 0.70 | +0.28 |
| Birch Mountn | BMD | 6321707 | 2.74 | -2.18 |
| Seabridge Gold | SEA | 68117 | 14.39 | -1.31 |
| Aurelian Res | ARU | 1215061 | 35.75 | -1.26 |
| Klondex Mns | KDX | 342200 | 2.19 | -0.31 |
| Crosshair E&Mg | CXX | 1904859 | 2.63 | -0.26 |
| Midway Gold | MDW | 144063 | 2.85 | -0.25 |
| Madison Minls | MMR | 1132712 | 0.90 | -0.23 |
| White Knight | WKR | 154245 | 1.52 | -0.23 |
| Primary Metals | PMI | 31200 | 2.60 | -0.23 |
| Mishibishu Gol | MGO | 153380 | 3.08 | -0.22 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| UrAsia Energy | UUU | 8000 | 3.70 | 3.08 | 3.63 | +0.28 |
| Pac Ridge Expl | PEX | 6439 | 0.23 | 0.15 | 0.23 | +0.02 |
| Birch Mountn | BMD | 6322 | 4.92 | 2.61 | 2.74 | -2.18 |
| Ditem Explor | DIT | 6013 | 0.41 | 0.235 | 0.385 | +0.13 |
| Strateco Res | RSC | 4934 | 1.83 | 1.50 | 1.77 | -0.02 |
| Aquila Res | AQA | 4887 | 2.00 | 1.61 | 1.83 | +0.18 |
| Acadian Gold | ADA | 4848 | 0.78 | 0.65 | 0.72 | +0.04 |
| Commerce Res | CCE | 4 382 |
0.36 | 0.30 | 0.305 | -0.055 |
| Plexmar Res | PLE | 4354 | 0.78 | 0.69 | 0.70 | -0.06 |
| Montello Res | MEO | 4083 | 0.145 | 0.125 | 0.135 | -0.005 |
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